The rating agency said Sunsuria’s profitability is mainly derived from its Sunsuria City development, which was launched in 2015 and still has an estimated gross development value (GDV) of about RM6.3bil. It is earmarked to be completed by end-2032.
KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has assigned a preliminary rating of A+IS to Sunsuria Bhd
’s proposed RM500mil Sukuk Wakalah programme. The rating outlook is stable.
In a statement issued on Wednesday, it said the assigned rating was based on Sunsuria’s moderate business and financial risk, underpinned by low leverage and a healthy liquidity position.
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